This video consists of two parts and is a presentation on the FASB Accounting Standards Codification Project which became effective July 1, 2009.
Part 1 (3:22) provides background on the new Codification and also discusses which items were been excluded.
Part 2 (3:27) addresses how is the Codification is structured. Ms. Horowitz discusses the four main groupings of topics and the manner in which they are organized into topics, subtopics, sections, and subsections. She provides the recommended manner in which accounting standards are referenced. Finally, recommendations are provided for updating firm documentation for the effects of the Codification.
To inform users of a recent, major development in accounting - that as of July 1, 2009, all authoritative guidance for Generally Accepted Accounting Principles (GAAP) is now in the FASB Codification, except for guidance from the Securities and Exchange Commission.
Target Student Population:
Undergraduate: intermediate or advanced accounting courses.
Graduate: Financial accounting course.
Accounting Professional: As an update course.
Prerequisite Knowledge or Skills:
Basic knowledge of US accounting standards.
Type of Material:
YouTube video lecture/presentation with accompanying outline and notes.
In an academic setting, the presentation could be used as an individual assignment, a lecture, or a review.
The presentation could also be used by accounting professionals as for a continuing professional education.
Sound card and speakers.
High-speed Internet access.
Web browser (Mozilla Firefox 3.6.3 was used when reviewing the presentation).
Evaluation and Observation
This video is an extremely efficient, current, and relevant answer to the question: What is GAAP? The presentation is executed by means of a very short YouTube.com video. The speaker is very articulate, clear, and captivating. Information is presented both verbally and with text for reinforcement of concepts. All content provided is accurate and informed by scholarship. An adequate amount of material has been included that excellently integrates and summarizes concepts.
Potential Effectiveness as a Teaching Tool
This short video holds the viewer's attention. It is direct and to the point and does not include extraneous information. It delivers exactly what the title states and viewers will learn a great deal in a short time. Concepts are reinforced progressively and build on prior concepts. This video is an excellent teaching tool.
Ease of Use for Both Students and Faculty
The lecturer's presentation style serves to maintain viewer interest.
The video is visually appealing and of a suitable design quality given the format used.
Only basic computer skills are required to view the presentation.
Two minor concerns were noted. The presenter is apparently looking at and reading form a teleprompter instead of looking at the audience. No attempt at interactivity has been included, such as could be achieved through the use of rhetorical questioning.